Fraud, Tom Blanchard, President Trump discussed on Common Ground
This is a serious problem was, And it was an article in the R. J. This week, A friend of mine named Tom Blanchard was the former president of the GAL bar. Was being questioned. And if you talk to the landlords, and you talk to the real estate agent through like all this has been a nightmare because the landlords are now their income has been caught because they're not if they were using that money to subsidize your income, and they weren't so security. They don't have a lot more money in the bank. Now it's really cutting into their bottom line. And a lot of these landlords like I want to get it. I want to get out of the property, but they can't So they're like they're hamstrung because of the stupid loss, right? So You know, here we are in a situation where people a lot of people are hamstrung. Obviously, landlords in particular, seem like they're hamstrung. But you have corporations making plenty of money. The government bailing out, you know, bailing out the stock market bailing out the corporate that right? Don't you maybe shouldn't be bailing out the American citizens. They are. They are to some extent, but probably not enough. That's the problem. How much money do you spend? And where do you suppose why are we spending money on these big corporations that have all them like? You know when they did the first peep Peep E round? If you look at the list of companies that got money, Tom Brady included a million dollars. That's ridiculous. Why should these big companies apply for that? P. P p money if they were laying people off, and how about the fraud that was perpetrated against our system? How many people were getting money through P P p through phony to shell companies getting paid, and it's a fraud just like just like unemployment in California here in Nevada, said across the country to the tune of over a billion dollars was paid out illegally. So when you go, you know the average person would do that right now. It seems that the average person is like you know what time it may be Time for me to be a scumbag. I'm gonna spare everybody had in my experience in my life. There's a certain amount of people that this is a percentage of people who are just going to take advantage. They're gonna be scumbags. They're gonna They're gonna commit fraud when they can when they think they can get away with it. And that's just the way it is, and it's been. It's always been that way and I don't know what we can do to prevent it, But it's gonna happen. I don't you know you could. You could put it better measures to prevent the fraud. There's no question about that. If they looked at it called if somebody was looking at it closer, or somebody's not letting their uncle commit fraud. And it would probably be better probably be a better situation, but that's the world we live in. That's what that's what our countries like. That's what people do not everybody, But there's a There's just a percentage of people who do that. And and and I don't see it stopping so I don't know what? I don't know what we can do about it. I mean, most people are honorable. I think that most people are stand up in honorable. I'd say I don't know what the percentages Well, let's call it You know, in most businesses, if you you're trying to keep your bad debt, anybody that gives credit right? So anybody that gives credit you're trying to keep your bad debt below 2%. You know if if you're not keeping your bad debt below 2%, you're you're doing wrong. So if you're in the credit industry, you know that a business in order to be successful, you have to keep your back. You know where you keep your bad debt, And if it rises above that, then you're in trouble. So it's 2% of the people are normally pretty bad and the less real estate dump I had a how I had a beautiful home that I lost because you could, and by the way, you couldn't have built my home for what I had to sell it for. Yeah, I mean, it took I had a million dollar home legitimately was million and 50,000 and I sold it for $440,000. That's the nuts. It was. It was a 52 100 Square foot home on a half acre last semi custom, And you know what? That was because we allowed people at that time to buy multiple homes with no stroke, no down stroke in the marketplace. They were going out the alley, auntie all over town by multiple real estate pieces with no money involved. And when the market started to go bad, they all walked away and we all got left holding the bag and a lot of good people who own homes in that area. Their value of the homes went from, Let's say 400 or 500,250. You know what people walked away and people go? That's not right. They shouldn't walk away. Well, you know what? It's good business like, you know, I'm getting screwed. I got robbed. The value of my house was supposed be 500,000 And because of all this crap now it's cutting its gotten half and realistically, it'll never get by time I get even with what my equity gets even tow. What I what I borrowed. It'll be 30 years, which is how never been the case When you brought home. My house is my old home right now is worth about 7 800,080 right. That guy's making a killing. My thing is back in the day when they had the chance to fix the loans, then.